Technology is a great enabler. It catalyzes growth by offering new solutions, optimizing existing processes, and speeding up various tasks. However, technology in the hands of cybercriminals can have disastrous effects.
Any industry that leverages technology is open to cybersecurity risks. Businesses that think "It won't happen to us" suffer monetary and reputational damage. This article is a quick walkthrough of the top industries at risk of cyberattacks in 2023... and highlight the different preventive measures to help your organizations circumvent similar attacks.
Industries at Risk of Cyberattacks in 2023 and Beyond
Threat actors take a nuanced approach while targeting businesses.
Here is a list of top industries and some of the most common types of cyberattacks they face:
1. Public Sector
Organizations in the public sector store and deal with massive amounts of public data. It is the primary reason why cybercriminals target this sector to steal sensitive data and Personally Identifiable Information (PII). According to IBM, the security breaches in the public sector grew from US$ 1.93 million to US$ 2.07 million in 2022 alone, reflecting a 7.25% increase.
Public sector organizations must implement the zero-trust principle and set data regulatory policies to protect data. Baseline tools like firewalls and IAMs can also help safeguard organizations' data from leaking. Our team of ethical hackers at Packetlabs offers a holistic solution to strengthen the security posture of public sector organizations.
Manufacturing businesses depend on various tools and solutions to maintain interoperability between teams and technologies. IoT, sensors, and other mechanical equipment associated with the manufacturing plant heavily rely on technology for streamlined operations and seamless execution. This dependency on technology opens manufacturing businesses to threat actors. Although manufacturing organizations are not public-facing, cybercriminals target them to disrupt the regular workflow.
Network monitoring tools, device discovery techniques, continuous surveillance in the manufacturing units, and adding measures for physical security are significant measures to protect against cyberattacks. Also, manufacturing enterprises can contact security firms whose experts from different cybersecurity verticals like IOT, physical security, or social engineering can guide them on robust security measures.
The threat quotient rises amid a race to build tech-heavy vehicles by leveraging IoT, AI, cloud computing, and other technologies. These technologies offer entry points to malicious players. Threat actors can achieve lateral movement and gain control of these hi-tech automotive products.
Automotive industries should go for thorough vulnerability assessment and monitoring practices. They can also restrict wireless technologies to the bare minimum. Besides, getting in touch with security firms like Packetlabs for guidance on vulnerability assessments and penetration testing can help the automotive sector find and address flaws before threat actors exploit them.
4. Financial Sector
Today all banks and insurance companies have gone digital because it enhances working speed and productivity. However, it also attracts cybercriminals as a single breach enables them to lay hands on customers' personal financial details. These criminals can hold the data for ransom or sell it on the dark web, where a market for such data flourishes. Even financial institutions know that they are constantly on the radar of cybercriminals.
Financial institutions offering online services like net banking, financial apps, digital wallet, and online transaction services must conduct a vulnerability assessment and penetration testing. They should also install Web Application Firewalls and Anti-DDoS tools. Financial organizations should hire security firms like Packetlabs to perform a comprehensive security analysis across different verticals.
With technology in the education sector to support online learning or innovative schools rising, it has become vulnerable to cyberattacks. According to a recent Microsoft Security Intelligence Report, the education sector accounted for nearly 62% (5.8 million) of malware threats.
Lack of cyber awareness among students and ed-tech platforms can lead to massive damage. Students might pay a dummy company or fraudulent website for online classes and live lectures.
Edtech platforms and online education service companies should remain vigilant about the sanctity of their digital presence. Online educational services and app providers must perform penetration testing on their web apps and digital systems. Education service providers can contact top security firms like Packetlabs for penetration testing of educational apps, websites, online services, and digital payment systems.
Solid penetration testing can help businesses identify and fix their vulnerabilities before someone exploits them. Partnering with the right solution provider ensures cyber criminals do not access user data and credentials.
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